£10M Salford Quays Office Investment Completes Hunter Real Estate Investment Managers (Hunter) has announced completion of its £10M investment into the 433,637 sq ft Exchange Quay office development in Salford Quays. Exchange Quay was acquired by Hunter in November 2013 on behalf of a North American institutional investor and a
CPBigwood, the Birmingham-based property and auctions business, has been acquired by one of the UK’s fastest growing independent property groups, for an undisclosed sum. Shepherd Direct Limited (SDL), the national property services group with interests in surveying, valuations, lettings, mortgages and estate agency, has made the acquisition to further enhance
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£10M Salford Quays Office Investment Completes Hunter Real Estate Investment Managers (Hunter) has announced completion of its £10M investment into the 433,637 sq ft Exchange Quay office development in Salford Quays. Exchange Quay was acquired by Hunter in November 2013 on behalf of a North American institutional investor and a £10M investment programme has been undertaken to upgrade the six office buildings to Grade A specification, extensively remodel the whole public realm and introduce a range of occupier facilities. The new Grade A office space will be a welcome addition to the North West office market which is experiencing a shortage of quality offices in key locations. Since this time last year, Exchange Quay’s agency team of Canning O’Neill and Savills has already secured 10 deals totalling almost 60,000 sq ft to relocating and existing occupiers and anticipates strong interest now that the results of Hunter’s investment can be showcased. A key part of the extensive works is the creation of a vibrant working environment through the introduction of a range of occupier facilities and it was recently announced that Hunter has appointed award-winning site services partner, Elior, on a five year contract to introduce and manage the major new amenity offering at Exchange Quay. The new occupier facilities incorporate a new restaurant with live cooking theatre, a Costa Coffee branded coffee outlet and a Londis Retail Shop. As part of its contract Elior will also provide a hospitality service to Exchange Quay, which will cater for meetings, events and functions. An on-site Post Office will also open this year. Jeremy Birkett-Jones, investment director at Hunter, said; “Right from the outset we recognised the immense potential in Exchange Quay, which was once regarded as the ‘Canary Wharf of the North’. It was clear to us that such a prestigious scheme in an unrivalled location in the North West would respond to a dedicated investment programme to modernise the office accommodation and create a whole new environment. We have engaged with all the relevant local bodies and worked closely with our design, site and agency teams since the acquisition to ensure that the finished product matches the market demand and this has already been confirmed in the initial lettings we have secured prior to completion of the works.” James Evans, Director of office agency at Savills, continues; “The Grade A offices at Exchange Quay are hitting the North West office market at just the right time, as occupier confidence has returned and supply is diminishing. The transformation has been about so much more than just the office suites, it has addressed the key factor on occupiers’ wish lists – the provision of the right environment for staff and visitors. This, coupled with the accessibility via road and public transport in addition to extensive on-site car parking, has culminated in a very exciting opportunity for the regional office market.” Exchange Quay’s six office buildings range from 26,151 sq ft to 116,684 sq ft. The development, which also boasts its own dedicated Metrolink tram stop, is strategically located just off Trafford Road which links Salford Quays to both Manchester City Centre and the major motorway networks via the M602. For press information please contact Faye at Space PR on 0161 669 7200 / 07793 401 579 or via email at faye@spacepr.co.uk
CPBigwood, the Birmingham-based property and auctions business, has been acquired by one of the UK’s fastest growing independent property groups, for an undisclosed sum. Shepherd Direct Limited (SDL), the national property services group with interests in surveying, valuations, lettings, mortgages and estate agency, has made the acquisition to further enhance the group’s financial strength and to help CPBigwood build nationally. CPBigwood is an established top ten UK auction house and the largest in the UK north of London. The firm’s residential service charge property management operation is also in the top ten in the UK. Estates Gazette’s Top Agents League Table ranks CPBigwood as 27th largest agent in the country. CPBigwood Senior partner Rory Daly, who will remain with the business as CPBigwood chief executive officer, said: “This marks the next step in the evolution of CPBigwood and will further enhance our position as a major player in the auctions and residential service charge management sectors. “The acquisition will boost not only auctions and property management but also our commercial agency, professional services and building surveying work. “Being part of SDL will provide a significant boost to the CPBigwood business and allow us to accelerate our growth plans.” CPBigwood formed when Bigwood merged with Curry & Partners in 2011 to set about building a national property services group, has origins dating back to 1854 and today delivers £80 million of property auction sales per annum and has more than 25,000 properties under management. The combined group will now generate over £60 million turnover per annum with 400 staff across offices in Birmingham, Glasgow, London, Loughborough, Southampton, Stratford-upon-Avon and the group headquarters in Nottingham. Group CEO Paul Gratton said: “SDL is a fast-paced, successful growing property services group which has quadrupled its turnover in the last five years and remains extremely ambitious.” Launched in 1989, SDL now boasts a client list including most major mortgage lenders including a 26 year relationship with HSBC, and currently manages over 140,000 mortgage valuations a year, through 150 panel firms and its team of 70 employed surveyors. SDL also includes the 50 branch estate agency Century 21 UK, with franchised branches from Liverpool to Southampton, including 20 offices in and around London and offers a residential lettings and management service to both institutional landlords and on an outsourced basis to independent estate agents, with current mandates to manage in excess of 5,000 properties. As part of its ambitious growth strategy, in 2015 SDL also acquired a significant stake in the national mortgage broker network Stonebridge to facilitate its growth, which now has more than 400 mortgage advisers and arranges in excess of £4 billion of mortgage lending annually. Rory Daly said: “The operations of both groups overlap without competing and by working together we will be able to secure additional benefits and operating efficiencies.” “The financial strength, entrepreneurial prowess and logistical support provided by SDL will enable us to develop further our already market leading proposition as well as to continue the significant growth we have achieved in recent years.” Paul Gratton added: “Rory Daly and his team have done a hugely impressive job of building a mature and successful business at CPBigwood.” “We are really looking forward to working with them to help support their ambitious growth plans both organically and through selective mergers and acquisitions as well as using the combined group’s reach in terms of winning new corporate partnerships and building deeper relationships with current business partners.”
GTS Maintenance know that it’s not just big businesses and large-scale industries who can benefit from anaerobic digestion systems as a waste management solution as well as a way to produce energy. Recently, they’ve been working closely with Wombridge School, in Telford, on the design, supply and installation of a Genereater Micro-AD Plant to solve this problem – cost effective organic waste disposal and energy production.
